Direct credit is typically a generic term used to describe an electronic payment from one business to another business or individual. The term is also used by BACS Ltd in the UK, referring to the electronic payments service they operate as part of the ACH (automated clearing house) function.
Direct Credit is the means by which an organisation can transfer funds electronically, directly into a specified Bank or Building Society to make payments to accounts of individuals or companies.
An electronic payment processed by BACS Payment Schemes and made direct to a bank or building society.